Acadian Asset Management LLC Sells 44,524 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Acadian Asset Management LLC reduced its stake in Limbach Holdings, Inc. by 24.3%, holding approximately $10.33 million worth of shares after selling 44,524 shares in the first quarter.
• Limbach reported $0.93 earnings per share for the recent quarter, exceeding the analyst estimate of $0.81, with revenue rising 16.4% compared to the same period last year.
• Several brokerages, including Lake Street Capital and Wall Street Zen, have upgraded Limbach's stock rating, with an average price target of $127.33.

Acadian Asset Management LLC lowered its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,706 shares of the construction company's stock after selling 44,524 shares during the period. Acadian Asset Management LLC owned approximately 1.19% of Limbach worth $10,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Limbach by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company's stock worth $2,483,000 after buying an additional 3,034 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Limbach by 16,413.0% during the first quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company's stock worth $283,000 after buying an additional 3,775 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Limbach by 7.5% during the first quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company's stock worth $1,033,000 after buying an additional 963 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Limbach by 259.3% during the first quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company's stock worth $924,000 after buying an additional 8,955 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Limbach during the fourth quarter worth about $246,000. Institutional investors own 55.85% of the company's stock.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of research analyst reports. Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. Stifel Nicolaus set a $146.00 price target on Limbach in a research report on Wednesday, August 6th. Finally, Lake Street Capital raised their price target on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $127.33.

Limbach Stock Down 4.0%

Limbach stock traded down $4.18 during midday trading on Tuesday, reaching $99.23. The stock had a trading volume of 335,448 shares, compared to its average volume of 224,193. The firm's fifty day simple moving average is $123.10 and its 200-day simple moving average is $112.19. Limbach Holdings, Inc. has a 1-year low of $63.02 and a 1-year high of $154.05. The stock has a market capitalization of $1.15 billion, a P/E ratio of 33.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The firm had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. During the same quarter in the previous year, the firm earned $0.73 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. Limbach has set its FY 2025 guidance at EPS. As a group, analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Limbach Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.